Manhattan $5M+ Luxury Sales: October 2025
Manhattan’s luxury market heats up despite constrained inventory.
Days on market declined as average price per square foot rose versus 2024.
October 2025 saw 90 contracts over $5M, a 13% rise year-over-year.
Thanks to strong resale activity, this was the second-highest October total since 2015.
Active listings fell 9% year-over-year.
$5M+ active listings dropped to 877 — the lowest October total since 2013.
Days on market dropped 8% year-over-year.
The annual decline was driven by a lower share of deals that spent over a year on the market than October 2024.
Average asking price per square foot rose 4% annually to $3,274.
The year-over-year gain was boosted by Billionaire’s Row contracts asking over $7,000 per square foot. Excluding those sales, average price per square foot fell 5% annually.
